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Koninklijke Philips NV v. Funai Electric Co Ltd (Final Award), 1 January 2016

This high-profile M&A dispute concerned the collapse of a deal between Philips (Claimant, Netherlands) and Funai (Respondent, Japan) for the latter to buy Philips’ consumer multimedia entertainment business. In response to an alleged breach of contract by Funai, who Philips said had refused to take necessary steps to enable completion of the transfer of the business, Philips had terminated the agreement between the parties. Philips brought its claims before the Paris-based ICC in 2013 and was awarded €135 million in compensation for damages by the Tribunal in 2016.